Main Navigation

Video and Audio Interviews That Matter.

June 2019 Interviews

Peter Schiff

June 26, 2019 - Dollar Will Fall through the Floor - Money manager Peter Schiff says all the money printing and debt explosion since the Great Recession comes with a huge downside. Schiff says, “All sorts of bad policies basically took place thanks to the monetary excesses applied by the world central banks, but now we are at a point where all these inflation chickens are going to come home to roost. It will not be in stock prices or real estate prices or bond prices, but in good old fashion consumer prices. Food, energy and all the things that we need to live are going to get a lot more expensive.” Schiff says the Fed is overlooking some big problems coming. Schiff says, “They (Fed) did not stress an environment where we have more inflation or where we have stagflation, where we not only have a rise in unemployment and a recession, but consumer prices and long term interest rates that go up at the same time. They (Fed) are not even thinking that’s possible, but that’s actually probable.

June 12, 2019 - $10,000 Gold will be a Bad World - Financial writer and book author John Rubino is worried about record debt at every level of the economy. Rubino says, “The next recession is overdue because this is the longest expansion on record. We loaded up car buyers with sub-prime loans. Students now have $1.5 trillion of student debt. Credit card debt is at record levels. Government debt is at record levels. Corporate debt is at record levels. All of these guys have borrowed more money than they ever have in history. So, the idea we are going to convince people to borrow a lot more money by lowering interest rates is at best problematic and at worst insane. We are headed that way because they have no other tools. So, when things slow down, they are going to start cutting again and printing money and buying up assets with that money. We’ll see if it works again. It shouldn’t have worked the last time. We are in a range of unexplored numbers. How much further can this go? Is there a limit out there? We are going to find out in the next recession.”

June 9, 2019 - Charade Over - 20% Inflation Very Possible - Financial writer and precious metals expert Craig Hemke says the reason you are seeing the wild markets and rising gold prices is all attributed to the Fed. It is in a horrible position. Hemke explains, “I don’t think ‘panicked’ is the right word because that means they are running around with their hair on fire terrified. I think they realize the corner into which they painted themselves. They are trying to mitigate the damage as much as they can. . . . The smartest thing the Fed can do right now at the next Fed meeting (June 18 & 19) is to cut the Fed Funds Rate by 50 basis points. They could at least kind of get the yield curve flat again, and not leave it so it looks like you are definitely headed into a recession. (Fed Head) Powell is not going to do that because it will look like he’s doing what Trump is telling him to do. He’s probably going to cut by a quarter point. There is also a pretty good chance he does nothing. The reason why interest rates all along that curve are going lower and lower is because money all around the world sees we all are headed into a recession.”

June 5, 2019 - No Place Else to go But Gold & Silver - Precious metals analyst and financial writer David Morgan says we are very close to a bottom in silver. Morgan contends, “I am biased, but objectively, there is no cheaper hard asset out there than silver. I mean it is so undervalued. It’s unwanted, it’s unloved, it’s misunderstood and there are very few people who want to get into this market at these lows. I found that true when I started the website.” Back then, in the early 2000’s, Morgan was calling a bottom in silver, and he was proven correct. Back then, Morgan pointed out, “I said inflation adjusted, silver was the lowest in all recorded history. I said if you want to be a value investor like Warren Buffett, and if you want something that is cheap and you want something at the bottom, well, here’s the bottom. Hardly anyone would do it. I wrote an article back then about how people don’t buy bottoms. They want to, but people buy momentum. People want to jump on the train when it’s already moving. Gold has gone from $1,045 (in 2015) to $1,300. I think there is enough momentum on gold to bring silver up from this level. I do think the bottom is in or close to being in.”

June 2, 2019 - Inflation is Already Here - Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says when it comes to making government accounting secret, there is widespread bipartisan support. We are talking about the new rule from the Federal Accounting Standard Advisory Board (FASAB rule 56) that took government accounting dark. Fitts explains, “If you look at FASAB rule 56, it was approved by both the (Trump) Administration and the bipartisan (Congress) on the same week that everybody was screaming about Judge Kavanaugh. It was passed we had all the hearings on Mr. Kavanaugh’s teenage sex life. At the same time everybody supposedly looks like they are fighting, we had a bipartisan Congress and Administration pass this very quietly underneath the attention given to the Kavanaugh hearings.” Why did both parties “quietly” pass FASAB rule 56 that makes federal budgets secret? Fitts says, “Since WWII, we have been building secret financial operations, whether it’s the ‘Black Budget’ or what some people call the ‘hidden system of finance.’ Secrecy is a huge financial addiction. I think every member of Congress does not see a way to kick the can down the road without becoming more and more extreme in tactics. I called FASAB 56 ‘secret money for secret armies.’ The same week that passed, an ad came out in one of the mercenary magazines that said ‘Blackwater is coming.’”